Just wondering how much of your monthly income goes towards your savings?
How Much % of Your Monthly Income Do You Put Towards Saving/Home Mortgage
cisco on 09/07/2015 - 00:43
Last edited 09/07/2015 - 01:00 by 1 other user
Last edited 09/07/2015 - 01:00 by 1 other user
Poll Options
- 100-15%
- 515-30%
- 1030-45%
- 945-60%
- 760-75%
- 2075%+
Comments
I think a better question would be: how much of your income goes towards Ozbargain?
And one of the responses as: all of it. That would be my vote.
People are really saving or paying off that much off their mortgage? Wowsers. Thought ours was high (we live off my wage and hubby's is all paid to the mortgage/offset account).
$eems like I'm the only one spending 75%+ on ozbargain ;)
If I had a mortgage it would be 75% but as I rent it is 50%
I'm not sure that you can really say that making mortgage repayments on a PPOR is the same as saving. You have a fair wack of interest there and housing is an expense. By that I mean, If you sell your home tomorrow you'll still have to pay an expense to live somewhere - either by buying new home or paying rent. The housing market in Australia certainly allows many people to build wealth and I'm not arguing that, but I still wouldn't lump mortgage repayments in with savings.
Money in ~ money out, but about 1/3 of that is for mortgage.
hmmm… seeing most ozB's put 75%+ makes me want to save more diligently…